BCE Announces Conversion of Series AN Preferred Shares to Series AM Preferred Shares

BCE's Preferred Share Conversion Announcement

BCE Inc. has made a significant announcement regarding its Series AN floating-rate preferred shares. The company will convert all outstanding Series AN shares into fixed-rate Series AM preferred shares starting March 31, 2026. This transition is being executed on a one-for-one basis, reshaping BCE’s stock structure and potentially affecting investors and their dividends.

The notice of conversion was given on March 2, 2026. Investors holding Series AM shares had the option to switch to Series AN shares, while holders of Series AN shares could opt for Series AM shares. The response was notable, with 2,276 Series AM shares being converted to Series AN shares, and a substantial 348,545 Series AN shares set to convert into Series AM shares.

Notably, this restructuring means that less than one million Series AN preferred shares will remain. Consequently, all remaining Series AN shares not in the conversion will be automatically switched to Series AM shares on the aforementioned date.

The Series AM preferred shares are designed to deliver a fixed quarterly dividend of 4.837% annually for a period of five years, commencing on March 31, 2026. This change is significant as it adjusts the dividend rates for investors depending on their share categories and could impact their investment strategies moving forward.

In market visibility, the Series AM preferred shares will continue trading on the Toronto Stock Exchange under the ticker BCE.PR.M. This conversion also reflects BCE’s broader strategy in managing its preferred share offerings, aiming to strengthen its market position and provide stable returns to its investors.

BCE stands as a leader in Canada’s communications sector, emphasizing advancements in fiber and wireless technologies along with diverse enterprise solutions. As advancements in technology continue to evolve, BCE is dedicated to offering services that connect, inform, and entertain clients while maintaining a competitive edge globally.

This conversion event comes at a pivotal time for BCE’s shareholders as they navigate the ongoing changes in the market landscape. With a strategic focus on innovation and customer service, BCE is set to enhance its offering, ensuring that it meets the demands of today’s digital and communication needs.

For more information, stakeholders are encouraged to visit BCE’s official websites, Bell.ca and BCE.ca, where further updates and resources about the company’s services and performance can be accessed. Investors can also reach out to BCE's investor relations for personalized assistance.

In conclusion, this conversion of the Series AN to Series AM shares is indicative of BCE’s proactive measures to manage its capital structure adeptly, ensuring that it can continue to deliver value and stability to its shareholders within a rapidly changing industry landscape.